With world stocks edging to another record high, MSCI’s emerging market benchmark index advanced 0.6 percent to trade at its strongest since May 2011.

Bourses in Turkey and the Philippines romped to fresh historic records, while Chinese blue chips gained for the fourth session running. Thailand stocks traded at their strongest in 24-years while Hong Kong rose to a decade high and Russian dollar-stocks jumped more than 1 percent to their highest in 11 months.

Markets were buoyed by Tuesday’s data showing healthy growth numbers across developed and emerging economies, which also gave a tailwind to commodities.

Adding to the emerging cheer was the dollar languishing close to the more than three months trough hit on Wednesday.

“The dollar is trading on a fairly weak footing at the moment which tends to be supportive for emerging markets, especially those with significant dollar debt like some of the Asian countries, but also Turkey and South Africa,” said Jakob Christensen, head of EM research at Danske Bank.

Turkey’s lira strengthened 0.1 percent as data showed consumer prices rising 11.92 percent in December, exceeding expectations and coming in sharply above a government forecast, yet off the 14-year peak it had hit in November.

High inflation is one of the biggest challenges facing the Turkish economy, which has grown strongly after a short-lived downturn following a failed coup in July 2016.

“For the market it’s important to see what it will mean for the central bank – do they have to react again? The market is probably taking the view that there will be higher rates,” said Christensen.

Inflation data is also due in Poland later in the day - the first to release across the region, where numbers often move in tandem. Poland’s figures are expected to show a decline in the annual inflation rate to 2.15 percent, which could hint at a possible later than projected monetary policy tightening in the region.

Emerging European currencies were broadly trading a touch weaker against the euro EURPLN=>, yet the losses followed recent multi-week and month highs.